ELYSIUM: A NEW ERA FOR HYPERLIQUID

Summary from the TLDR Crypto newsletter

Kinetiq, which holds the majority of HyperEVM TVL and economic activity, is launching Elysium, an L2 built to resolve HyperEVM's throughput constraints and swap costs that reach $20 per transaction. Elysium adopts HYPE as its gas token instead of USDC, targets block time parity with HyperCore, and ships an L1Read precompile that grants PropAMMs top-of-block oracle freshness, enabling tighter quotes than HyperEVM's architecture permits. A native token generation platform creates an unbroken path from long-tail AMM bootstrapping through Elysium PropAMM integration, HyperCore spot orderbook listing, and eventual HIP-3 perpetual listing, all within one ecosystem. Sequencer fees split 50% toward programmatic open-market KNTQ purchases burned in full to the Hyperliquid Assistance Fund, with the remaining 50% split equally between builders and the Kinetiq treasury.